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Story summary
- Robert Rubin warned at the CNBC CFO Council Summit that U.S. debt could reach 99.8% of GDP by 2025, posing risks like the October 1987 market crash.
- Rubin says inflating the debt away would have adverse consequences and urges new taxes and spending cuts to stabilize debt-to-GDP.
- Rubin warns AI displacement could affect up to 50% of white-collar jobs, and the political system is not addressing these implications.